The Ensign Group, Inc. (Nasdaq: ENSG), recently announced that it has acquired three Texas skilled nursing facilities SunView Care Center, an operating skilled nursing and Alzheimer’s campus in Youngtown, Arizona, a sister community adjacent to Arizona’s Sun City retirement community. All of the transactions were effective as of December 1st. The acquired locations in Texas included the 93-bed Grand Terrace Rehabilitation & Healthcare Center in McAllen, the 100-bed Alta Vista Rehabilitation & Healthcare in Brownsville; and the 95-bed Veranda Rehabilitation & Healthcare in Harlingen. Ensign’s Arizona transaction was for the 127-bed campus that includes SunView’s 48 skilled nursing beds and 26-bed sub-acute unit, plus Villa Valencia, a 53-bed secure Alzheimer’s facility. Ensign expects SunView, which had occupancy at acquisition of approximately 63%, to be accretive to earnings in 2010. Ensign is making plans to enhance physical, occupational and speech therapy services, as well as to add IV therapy and other services not currently offered in the facilities over time.
"These facilities will offer tremendous potential operating synergies as we broaden their current offerings to include higher-acuity services," said Barry Port, President of Ensign’s Texas-based Keystone Care subsidiary.
Commenting on the sale, the Evangelical Lutheran Good Samaritan Society’s Mark Dickerson said, "The Evangelical Lutheran Good Samaritan Society has been honored to serve the seniors of the Rio Grande Valley for many years. Our prayers and best wishes are with The Ensign Group as they continue our tradition of serving the residents of the Brownsville, Harlingen and McAllen areas."
